The latest ruling will now go back for re-certification and the process of extradition should be triggered within 28 days
While congratulating the Indian government over the Rs 20 trillion economic package, Mallya lamented that his repeated offers to repay his dues have been ignored
The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met
Meanwhile, the liquor baron expressed disappointment and said he will pursue further legal remedies as suggested by his lawyer
Vijay Mallya's fate is now with the UK government.
A debt recovery tribunal in India ruled Rs 6,200 crore - Rs 5,000 crore as principal and Rs 1,200 crore as interest - was payable.
This bankruptcy petition is by any measure extraordinary. The banks are pressing for a bankruptcy order at a time when there are extant proceedings in India, read the judgment
Mallya sought government help and said, "we are not sending employees home and paying the idle cost. Government has to help."
His lawyers told the British High Court this week that he had been the victim of the airline industry's misfortunes and had no fraudulent intentions behind seeking loans for his now-defunct airline.
Asked about heading back to India, he noted: I should be where my family is, where my interests are
Representatives from the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI), as well as the Indian High Commission in London, were present in court for the hearing.
"The airline industry is littered with examples of struggling airlines being supported for strategic reasons," said Montgomery.
Vijay Mallya, who remains on bail since his arrest on an extradition warrant in April 2017, avoided the usual scrum of reporters at the court entrance and went in with his lawyers separately.
Mallya, who relocated to London in 2017, controlled Kingfisher Beer in India, where he is still a substantial shareholder
A bench of Justices Nariman and S Ravindra Bhat observed that Mallya has not deposited a single penny to the banks so far.
A bench headed by Chief Justice S A Bobde passed the order after the Centre told the court that Mallya used pendency of his plea to stall the UK court from delivering verdict in insolvency proceedings
Mallya had approached the apex court on June 27 seeking a stay on the confiscation of properties owned by him and his relatives.
Maruti said it sold 124,375 vehicles in the domestic market in December as compared to 121,479 vehicles sold in the same month last year
Senior counsel Amit Desai, appearing for Mallya, said the court has ordered lifting of attachment of assets
Under the Fugitive Economic Offences Act, the court can order attachment of offenders' properties